Parallax Volatility Advisers portfolio

What changed this quarter

620 positions with a change (121 new, 194 added to, 174 trimmed, 131 sold); also, 28 entered through an IPO, 2 exited through an acquisition or merger, 18 entered through a spin-off. 12 are listed here: those of 0.5 points of the portfolio or more (up to 12).

• NVIDIA+2,118%more sharesIncreased
  0.4% → 9.5%
• State Street Financial Select Sector ETF−100%fewer sharesReduced
  5.1% → under 0.1%
• Apple−77%fewer sharesReduced
  3.9% → 0.8%
• Applied Materials+2.3 ppof portfolioNew
  — → 2.3%
• Amazon.com+2.1 ppof portfolioNew
  — → 2.1%
• Walmart+5,431,817%more sharesIncreased
  under 0.1% → 1.5%
• State Street Energy Select Sector ETF−99.9%fewer sharesReduced
  1.8% → under 0.1%
• Intel+106%more sharesIncreased
  0.5% → 2.6%
• Exxon Mobil+1,604%more sharesIncreased
  0.1% → 1.4%
• Nextera Energy+17%more sharesIncreased
  9.0% → 8.5%
• Cisco Systems+1.1 ppof portfolioNew
  — → 1.1%
• Lam Research+815%more sharesIncreased
  0.1% → 1.2%

The figure on the right: for positions added to or trimmed, the change in the number of shares (%); for new and sold ones, the points of the portfolio moved (pp). Below, the portfolio weight before → after. Traded weight?: what it bought or sold, excluding price effects.

Top holdings

• NVIDIANVDA9.5%
• Nextera Energy(preferred)8.5%
• IntelINTC2.6%
• Applied MaterialsAMAT2.3%
• Amazon.comAMZN2.1%
• Micron TechnologyMU1.8%
• Goldman Sachs GroupGS1.7%
• AlphabetGOOGL · GOOG1.6%
• WalmartWMT1.5%
• Alibaba Group HoldingBABA1.4%
• Exxon MobilXOM1.4%
• CitigroupC1.3%
• NetflixNFLX1.2%
• Lam ResearchLRCX1.2%
• Cisco SystemsCSCO1.1%
• ChevronCVX1.1%
• iShares Semiconductor ETFSOXX1.0%
• Take-two Interactive SoftwareTTWO1.0%
• Meta PlatformsMETA1.0%
• Dell TechnologiesDELL0.9%
• Cigna GroupCI0.9%
• Berkshire HathawayBRK/B0.9%
• iShares S&P Small-cap 600 VA ETFIJS0.8%
• AppleAAPL0.8%
• Novanta(preferred)0.8%
• BlackstoneBX0.8%
• JPMorgan ChaseJPM0.8%
• BoeingBA0.8%
• Freeport-McMoRanFCX0.8%
• DatadogDDOG0.7%
• MastercardMA0.7%
• CrowdStrike HoldingsCRWD0.7%
• iShares 20+ Year Treasury BD ETFTLT0.7%
• StarbucksSBUX0.7%
• CVS HealthCVS0.7%
• MicrosoftMSFT0.6%
• State Street Industrial Select Sector ETFXLI0.6%
• Barrick MiningB0.6%
• Williams CompaniesWMB0.6%
• Texas InstrumentsTXN0.6%
• SandiskSNDK0.6%
• SnowflakeSNOW0.6%
• MerckMRK0.6%
• Occidental PetroleumOXY0.6%
• TargetTGT0.6%
• FedExFDX0.6%
• OracleORCL0.6%
• Palantir TechnologiesPLTR0.6%
• Wells FargoWFC0.6%
• American ExpressAXP0.5%
• SalesforceCRM0.5%
• Kranesh CSI China Internet ETFKWEB0.5%
• Procter & GamblePG0.5%
• TeradyneTER0.5%
• Super Micro ComputerSMCI0.5%
• Ishares Bitcoin Trust ETFIBIT0.5%
• Eli LillyLLY0.5%
• Nebius GroupNBIS0.5%
• UBER TechnologiesUBER0.4%
• Altria GroupMO0.4%
• NikeNKE0.4%
• WEN AcquisitionWENN0.4%
• Devon EnergyDVN0.4%
• Cslm Digital Asset Acquisition Corp IIIKOYN0.4%
• United Airlines HoldingsUAL0.4%
• RokuROKU0.4%
• CelesticaCLS0.4%
• State Street SPDR S&P Metals Mining ETFXME0.4%
• MongodbMDB0.3%
• Invesco Exchange Traded Fund TRSP0.3%
• State Street SPDR S&P OG EXP & Prod ETFXOP0.3%
• Meshflow AcquisitionMESH0.3%
• Morgan StanleyMS0.3%
• ARES ManagementARES0.3%
• Range ResourcesRRC0.3%
• Ford MotorF0.3%
• HSBC HoldingsHSBC0.3%
• iShares Msci USA Momentum FA ETFMTUM0.3%
• Valero EnergyVLO0.3%
• Union PacificUNP0.3%
• IRENIREN0.3%
• iShares Expanded Tech-softwa ETFIGV0.3%
• Constellation EnergyCEG0.3%
• BlackBerryBB0.3%
• Zoom CommunicationsZM0.3%
• Under ArmourUAA0.3%
• CamecoCCJ0.3%
• NewmontNEM0.3%
• Lowe'sLOW0.3%
• ProCap AcquisitionPCAP0.3%
• Republic Digital AcquisitionRDAG0.3%
• Trailblazer AcquisitionBLZR0.2%
• United Parcel ServiceUPS0.2%
• Boston ScientificBSX0.2%
• Kochav Defense AcquisitionKCHV0.2%
• Carlyle GroupCG0.2%
• State Street Technology Select Sector ETFXLK0.2%
• BaiduBIDU0.2%
• Pitney BowesPBI0.2%